Residual Income In Bosnia & Herzegovina - Passive Residual Income Fundamentals Explained
There are tons of articles out there confusing passive income with residual income. However, in the financial world, residual income has an entirely different meaning. Also known as disposable income, residual income isnt actually a type of income, its a calculation that accountants perform to determine what your income is after paying all expenses and debts.
If youre reading this article, then youre likely curious about passive incomeand the way to earn it. There are numerous ways to earn passive income, including from:
Stock returns: Dividends you receive paid from any shares you own, which earn you money long after their purchase.
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Investment properties: Rent you receive from a property propertyresidential or commercial. Yes, the property needs to be maintained, but the earnings still stream in each month.
Book sales: Royalties an author receives writing a book. Generally, they have paid a percentage of the retail or net cost of every book soldin perpetuity.
In each of these cases, your one-time investment consistently offers you an income at the same time you sit back and collect on it. What could be greater than that!
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In the entrepreneurial world, another popular form of passive income is click-to-purchase content, which includes products like e-books, how-to guides, or online courses. Essentially, the entrepreneur sells his/her expertise by means of these pre-prepared online productsindividuals buy the e-book or online training to gain access to the experts knowledge.
Since the entrepreneur has prepared the content, they all need to do is watch the money roll in (obviously, only once theyve gained a following and marketed the hell out of these )!
In the electronic era, knowledge is powerand money. Selling your knowledge through online merchandise is big business. Why not tap into it
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Of course, the selling of manufactured products or merchandise is an age-old source of income, but can it be passive income it might be, depending on the business model. Two of the most common sources of passive income via merchandise sales are:
Item Distribution: Companies that enable individuals to become product distributors and earn a return on their customers buys are another source of passive income. Like any other type of passive income, should you invest up-front (by recruiting loyal customers), the long-term benefits can be enormous!
Affiliate Programs: As an affiliate, you market a companys products or services on your website, and you get a percentage of their selling when someone clicks from your site to purchase it. If your website gets a lot of traffic, you could earn a penny from affiliate links!
This is exactly what dreams are made from. Youre making money even when you arent doing anything. This means that even when youre sick, traveling, or dont feel like working, the money youre your passive income source(s) continues to roll in.
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The thing about earning money from your corporate job is, no matter how hard you work, no matter how fantastic you're in your work, index no matter how much extra time you log, then there'll always be a limit to your incomethats the word salary cap exists.
Unlike your company salary, passive income has no limits. Want to earn 7 figures Then start investing!
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You can work your butt off to make money but youll never get anywhere until you start making passive income. I make money on seven different income sources but some of them require a lot of work.
Passive income is money you earn from a product or an investment in which you dont have to do any more work once you set this up. That means consistent cash flow every month if youre working or not.
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Im going to share my seven favorite passive income resources, income flows I use to create money each month. Now Im not going to sugar coat this, a few of these are going to take work but will mean thousands a month you can count on.
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Im going to begin with the easy passive income ideas, the ones which you can begin making money on immediately and will work through into the ones youll create the most money on as we go through the listing so be sure you stick around to grab those last few passive income strategies.